Court orders Siemens to compensate RostecТs Crimea litigation costs - Engineering & Hi-Tech - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Court orders Siemens to compensate RostecТs Crimea litigation costs

MOSCOW, Nov 26 (PRIME) -- The Moscow Arbitration Court charged the Russian affiliate of Siemens U.S. $80,400 of expenses on litigations of Technopromexport, affiliate of state industrial corporation Rostec, on Monday.

The court satisfied a claim submitted by Technopromexport in October.

Siemens said in July 2017 that all the four turbines meant to be used on a Russian power plant on the Taman Peninsula were illegally shipped to Crimea, forcing the company to cancel its licensing agreements to sell power equipment to Russian firms and suspend then-current agreements with state-run companies.

Siemens and its subsidiary Siemens Gas Turbine Technologies filed suits asking for cancellation of an agreement on turbine supplies concluded with RostecТs units, JSC Technopromexport and LLC Technopromexport, as well as for recovery of the four gas turbines.

The Moscow Arbitration Court and the Ninth Arbitration Court of Appeals rejected the companyТs suits, and the Arbitration Court of the Moscow District later upheld the decision.

End

26.11.2018 15:03
 
 
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